On January 10, The Conference Board released its 4th Quarter CEO Confidence Survey. The overall measure of CEO Confidence was at 49, up from 42 in the third quarter.
Notable excerpts from this January 10 Press Release include:
Says Lynn Franco, Director of The Conference Board Consumer Research Center: “The bounce back in CEO Confidence in the final months of 2011 was due primarily to an improved short-term outlook. Overall, however, CEO confidence remains rather subdued. On the inflation front, CEOs anticipate price increases of about 1.8 percent for 2012, down from last year’s estimate of 3.3 percent.”
CEOs’ assessment of current economic conditions was less pessimistic, with 17 percent saying conditions have improved compared to six months ago, up from just 11 percent last quarter.
Other recent surveys of business executives include the December 14 Business Roundtable’s CEO Economic Outlook Survey (pdf) and the December 15 Duke/CFO Magazine Global Business Outlook Survey (pdf).
I post various economic forecasts because I believe they should be carefully monitored. However, as those familiar with this blog are aware, I do not agree with many of the consensus estimates and much of the commentary in these forecast surveys.
The Special Note summarizes my overall thoughts about our economic situation
SPX at 1326.06 as this post is written